Read How Analysts Reacted To Blend Labs' Q4 Results

  • Analysts mainly slashed the price targets or downgraded the rating on Blend Labs Inc BLND post Q4 results.
  • KeyBanc analyst Josh Beck lowered the price target to $6 from $10 (26% upside) and kept an Overweight
  • The company's FY22 revenue forecast was well below the Street's $343.8 million, reflecting the negative impact of higher rates on the mortgage market.
  • Canaccord analyst Joseph Vafi downgraded Blend Labs to Hold from Buy with a price target of $5, down from $28 (5% upside).
  • Vafi noted that share gains in 2022 likely cannot entirely offset estimated overall mortgage volume declines given the macro environment.
  • Truist analyst Terry Tillman lowered the price target to $5.50 from $7.50 (16% upside) and kept a Hold. 
  • Tillman specified that the company's Q1 and FY22 outlook was well below Street view.
  • The analyst remains cautious about the potential for further negative estimate revisions and the lack of clarity around cost savings initiatives.
  • Piper Sandler analyst Arvind Ramnani downgraded Blend Labs from Overweight to Neutral and lowered the price target from $10 to $5.5 (16% upside).
  • Wells Fargo analyst Michael Turrin downgraded Blend Labs from Overweight to Equal-Weight with a $5 price target (5% upside).
  • Price Action: BLND shares traded lower by 16.58% at $4.76 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!